It’s been nearly a quarter century since the building debuted with back-to-back NBA championships by the Pistons and epic concerts from Michael Jackson.

Yet, it is as modern and relevant as when it opened.

It’s a great jewel for Oakland County, the classic example of what private industry can do for public good.

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Save $5 million for infrastructure surrounding it, The Palace was funded by former Pistons’ owner William Davidson.

Current Palace owner Tom Gores has continued the updates.

“The Palace wasn’t only state-of-the-art when it was built, but it was done with future upgrades in mind. It compares favorably with arenas across the country in every category,” Palace president Dennis Mannion said. “Nobody would walk in here not knowing and guess it is 25 years old.”

The second and third rounds of the NCAA men’s basketball tournament is being hosted by Oakland University at The Palace next week.

The Palace has hosted the NCAA tournament before - in 2006, 2000 and 1997. The exposure for Oakland County this coming week can’t overstated.

After the Super Bowl, the NCAA tournament is arguably the biggest sporting event in this nation. Ford Field and Detroit did a terrific job of hosting the Final Four and a regional in recent years, but The Palace is uniquely qualified for this stage of the tournament when eight different teams visit for what is the most important part of their individual seasons.

Michigan and/or Michigan State will be there. That much is clear. This is huge.

There is so much focus on Detroit’s troubles, it’s forgotten just what the Detroit area as a whole has to offer. Oakland County represents the best of it. The Palace is a focal point for it.

Downtown Rochester, downtown Royal Oak and downtown Birmingham - there is plenty to do in Oakland County. The media hotel for the event is on Big Beaver in Troy where excellent restaurants and shopping are nearby.

There is a lot of prosperity surrounding The Palace. If there is a drawback, it’s the airport is an hour away.

Fans have complained through the years Oakland County isn’t centrally located for the rest of the metro area. It’s an issue justifiably raised, but it is particularly convenient for those in Oakland County, and Macomb County living near the M-59 corridor. It’s not even much farther than downtown Detroit for those who live on the northern edges of the city. And Oakland and Macomb counties are by far the biggest portion of the fan base for the four major professional sports teams in Michigan.

Oakland County has a much larger population than the City of Detroit, and an increasingly thriving business environment. Oakland County benefits a great deal from events in Detroit, and would be helped by a resurgence of the city, but it need not apologize for its own success, or it being on display next week.

The idea of the Pistons moving back to Detroit, if a new arena is constructed to house the Red Wings, is supported by many even in Oakland County. Oh, then The Palace is brought up. Why abandon it when it is so successful and has been a sterling example of what has been right about southeastern Michigan the last quarter of century?

This is also huge for Oakland University, a growing educational entity.

“The school is growing in many ways and we’ve been Division I for a relatively short period of time,” Oakland athletic director Tracy Huth said. “To be a part of the NCAA tournament is tremendous exposure for the university. The Palace is a great facility with outstanding leadership and staff. It’s a winning combination for us.”

For Oakland County overall, too.

Pat Caputo is a senior sports reporter and a columnist. Contact him at pat.caputo@oakpress.com and read his blog at theoaklandpress.com. You can follow him in Twitter @patcaputo98